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Joe Van Steenbergen's avatar

All they have to do is to stop printing paper money and producing coins, and gradually removed currency from circulation. How do we propose to not comply with this, other than to start bartering with each other?

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Julie Pettiford's avatar

It’s well and truly in Australia, if you receive welfare, own a business, have an accountant, they want all your info to connect with any govt services. There are penalties for those who do not comply to handing over all their info. As for banks our Reserve Bank is already digital. Despite the previous government’s attempt to pass legislation moving to digital currency, it failed but the banks have closed nearly 1,000 branches, are removing ATMs with a number of existing branches refusing to take cash. We had a major wake up call during the week- one of our two major IT suppliers went down for 30 hours - businesses couldn’t function, people couldn’t pay for things last ke groceries. People woke up big time- always carry cash

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